Entain increases the offer price to SEK 53 in cash per share in Enlabs - Seite 3

In addition, shareholders holding in aggregate around 42.2% of the total number of Enlabs shares have previously undertaken to accept the Offer. These undertakings are conditional only on the Offer being declared unconditional on or before 17 May 2021. For more information about these undertakings, please refer to the offer document.

As a result of the additional irrevocable undertakings provided on 28 February 2021, shareholders holding in aggregate 35,639,087 Enlabs shares, representing around 51.0% of the total number of Enlabs shares, have undertaken to accept the Increased Offer.

Revised Offer

Entain has decided to increase the cash offer from SEK 40 per share to SEK 53 per share. If Enlabs pays dividends or makes any other distributions to Enlabs shareholders, for which the record date occurs prior to the settlement of the Offer, the Increased Offer Price will be reduced accordingly. The Increased Offer Price values Enlabs at around SEK 3.7 billion (equivalent to approximately GBP 316 million at the time of this announcement).[1] The Increased Offer Price is final and will not be increased by Entain.

The Increased Offer Price represents a premium of:

• approximately 88.5% compared to the volume-weighted average price of SEK 28.12 per Enlabs share on Nasdaq First North during the last 180 trading days prior to the announcement of the Offer;
• approximately 53.1% compared to the volume-weighted average price of SEK 34.61 per Enlabs share on Nasdaq First North during the last 90 trading days prior to the announcement of the Offer; and
• approximately 34.0% compared to the closing price of SEK 39.55 per Enlabs share on Nasdaq First North on 5 January 2021, which was the last trading day prior to the announcement of the Offer.

Shareholders of Enlabs who have already tendered their shares to the Offer will automatically benefit from the Increased Offer Price without any further action.

As announced by Entain on 11 February 2021, the acceptance period has been extended until 17.00 CET on 18 March 2021. Provided that Entain announces that the conditions of the Offer have been satisfied or waived by 23 March 2021, settlement is expected to commence on or around 30 March 2021.

Except as set out above, the terms and conditions set out in the offer document apply during the extended acceptance period.

Supplement to the offer document

An offer document was published on 20 January 2021. A supplement to the offer document will be announced shortly by Entain reflecting the contents of this press release, and including Enlabs' year-end report announced on 23 February 2021.